Q: What is SashimiSwap?

A: SashimiSwap (sashimi.cool) is a Uniswap-inspired investment platform dedicated to ‘multiplying’ the income for liquidity providers. Whereas most other platforms primarily rely on transaction fees, SashimiSwap also has significant investment returns by optimally and automatically investing a part of the idle liquidity in the most profitable platform(s), automatically adjusted every day. If likened to a foreign exchange, then SashimiSwap is depositing part of its assets into the bank to earn interest.

Q: Where can I buy SASHIMI?

A: Currently, you can get SASHIMI on SashimiSwap Exhcange and Uniswap. The link is:

Q: Will SashiSwap's assets be used for the aelf community or the Sashimi community?

A: Unlike SushiSwap, which distributes 10% of its funding each time to the founding team for development, future iterations, audits, etc. SashimiSwap did away with such “development funds”. SASHIMI tokens are 100% distributed based on liquidity mining, without any pre-sale, pre-mining and team distribution.

Q: What is timelock?

A: Timelock means when you send a transaction, the contract is executed after a set period, say, we set the period at 2 days, like Sushi. Timelock cannot lock liquidity, It is to prevent anyone from stealing tokens.

Q: Has the Sashimi contract been audited?

A: Audit Report https://sashimi.cool/files/sashimi_audit_report.pdf

Q:How to make a proposal that attracts more voting?

A:1. Add new proposal

  • Open the Sashimi snapshot site: https://snapshot.sashimi.cool/#/sashimi

  • Click “New proposal” on the project homepage.

  • Fill in the Title in accordance with the project naming standard.

  • Fill in the large text field with your community proposal.

  • Select the desired voting options.

  • Now go to the “Actions” box.

  • Select the start date.

  • Select the end date (allow enough time for voting).

  • Enter the snapshot block height (See below: Add a snapshot block height).

  • Click “Publish” to create proposal.

  • Sign the message via your wallet and it's done.

2. Add a snapshot block height

The block height is important as it will lock the state of community members who are able to vote. This means that if you attempt to vote on a proposal, but the block height is in the past and you weren't holding the required token yet, your vote will not count.

3. Voting

Note: When you vote on the SASHIMI snapshot platform https://snapshot.sashimi.cool/#/sashimi, you need to use the ETH-SASHIMI SALP staked in the Farms, namely SASHIMICHAKRA. One token = one vote, otherwise the vote is invalid.

Check the detailed tutorial on voting on snapshot: https://docs.snapshot.page/guides/create-a-proposal

Q:How does Staking work? Why am I not seeing my investment go up?

A:SashimiSwap offers staking to incentivize users who hold and stake tokens. Users can stake their tokens at any time without time locks. When staking SASHIMI tokens, the tokens are converted into xSASHIMI as redemption voucher. The amount of xSASHIMI at the time of initial conversion will be the same as the amount of the staked SASHIMI tokens. xSASHIMI will appreciate as the returns in Sashimi Bar increase; the higher the returns, the more valuable the xSASHIMI, the more SASHIMI tokens users can withdraw.

Over time, SASHIMI tokens are bought back from the platform via multiple means, such as income from Investment and Exchange. Bought back tokens are made available to the stakers on the SashimiSwap platform. Over time, the amount of available bought back SASHIMI will increase. However, the amount of xSASHIMI will stay the same in a user's account; this makes xSASHIMI worth more over time. When the user decides to withdraw his/her tokens from staking, the available xSASHIMI will yield more SASHIMI tokens than initially staked.

Important note: during the staking process, it will seem like no tokens are earned, as the xSASHIMI amount in the wallet does not change. However, if you look at the current xSASHIMI:Sashimi swap ratio on the staking page (https://sashimi.cool/staking), you will find this ratio goes up over time as the returns in Sashimi Bar increase, making your investment worth more over time.

Example: a user has staked 1000 SASHIMI tokens and received 1000 xSASHIMI tokens back. At the time of convertion 1 xSASHIMI was worth 1 SASHIMI. After a week of staking, xSASHIMI now worth 1.028 SASHIMI. The user is happy with the yield and decides to stop staking. By converting xSASHIMI back to SASHIMI, he now receives 1028 SASHIMI tokens in return.

FAQ about Sashimi Lending

Q: How much interest can I earn from my deposits?

A: The income earned by slToken holders includes two parts:

  • Interest income: depositors will get interest income according to the dynamic annualised interest rate of deposits. Each type of asset has its own supply and demand market, and the corresponding APY(annual average rate of return) changes dynamically with the relationship between supply and demand.

  • $SASHIMI incentive: the platform will provide $SASHIMI incentive for users participating in Sashimi Lending. The specific reward amount is related to markets and asset amount in the market.

Q: Is there a minimum or maximum deposit amount?

A: You can deposit any amount without minimum or maximum limit. However, it is important to know that for very low amounts, the transaction costs of the process may be higher than the expected benefits. We recommend you to consider this when you deposit a very low amount.

Q: Why should I borrow rather than sell assets?

A: Selling your asset means closing your position on that particular asset. Therefore, you lose the upside potential. By borrowing against the asset, you can monetise without selling it. Users borrow mainly for unexpected expenses, using their holdings or seeking new investment opportunities.

Q: How much can I borrow?

A: The maximum amount you can borrow depends on the value of the assets you deposited and the liquidity available. For example, if there is insufficient liquidity or your Loan to Value rate does not allow you to borrow more, you cannot do so. You can check out the specific Loan to Value rate of each market on webpage.

Q: What assets do I need to repay?

A: You repay the loan with the same asset you borrow. If you borrow 1 ETH, you will pay off 1 ETH plus accrued interest. If you want to repay according to the US dollar price, you can borrow any available stablecoin, such as USDC, DAI, USDT, etc.

Q: How much interest do I have to pay?

A: The interest rate you pay for the borrowed asset depends on the borrowing rate derived from the asset's supply-demand relationship. We use floating interest rates, which vary with supply and demand. You can find the current borrowing rate at any time in the "APY" of the Borrow Market.

Q: What is the Loan to Value ratio?

A: The Loan to Value ratio is the ratio of the maximum amount you can borrow to the dollar value of your collateral. The lower the value, the healthier your account is. If the Loan to Value ratio reaches 100%, liquidation will be triggered.

Q: What happens when my Loan to Value ratio goes up?

A: When the value of your collateral fluctuates, the Loan to Value ratio will change dynamically. If your Loan to Value ratio is low, the liquidation is less likely to be triggered, thus improving your account healthy level. If the value of the collateral decreases relative to borrowed assets, the Loan to Value ratio will increase, resulting in higher liquidation risk.

Q: When do I need to pay back the loan?

A: There is no tenor of the loan. As long as your position is safe, you can borrow money. However, accrued interest will increase over time, which will increase your Loan to Value ratio, as well as the liquidation risk.

Q: How to avoid liquidation?

A: To avoid liquidation, you can improve the health level of your account by top up collateral or repay part of the loan. Repayments are more effective than increasing collaterals. It is important to monitor your Loan to Value ratio and keep it at a reasonable level to avoid liquidation. For example, keeping the Loan to Value ratio below 50% will definitely keep you safe.

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